Three Cord True Wealth Management LLC Acquires New Holdings in Snap-On Incorporated (NYSE:SNA)

Three Cord True Wealth Management LLC purchased a new stake in shares of Snap-On Incorporated (NYSE:SNA) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 607 shares of the company’s stock, valued at approximately $205,000. Snap-On makes up about 0.2% of Three Cord True Wealth Management LLC’s investment portfolio, making the stock its 27th biggest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in shares of Snap-On in the 4th quarter worth approximately $26,000. Opal Wealth Advisors LLC bought a new position in Snap-On during the first quarter worth $35,000. CoreFirst Bank & Trust bought a new position in Snap-On during the fourth quarter worth $40,000. TCTC Holdings LLC lifted its holdings in Snap-On by 41.3% in the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after buying an additional 43 shares during the period. Finally, ORG Partners LLC lifted its holdings in Snap-On by 150.8% in the first quarter. ORG Partners LLC now owns 158 shares of the company’s stock valued at $54,000 after buying an additional 95 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Robert W. Baird lowered their price objective on Snap-On from $349.00 to $320.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Barrington Research reaffirmed an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research note on Monday, May 19th. Longbow Research raised Snap-On from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a research note on Monday, March 31st. Tigress Financial increased their price target on Snap-On from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $350.83.

Snap-On Stock Performance

NYSE SNA opened at $305.61 on Monday. The firm has a market cap of $15.98 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 2.18 and a beta of 0.78. The company has a quick ratio of 3.18, a current ratio of 4.14 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $317.36 and its 200-day moving average is $331.80. Snap-On Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.30). The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Snap-On had a return on equity of 18.60% and a net margin of 21.42%. During the same period in the previous year, the company posted $4.91 earnings per share. Sell-side analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Tuesday, May 20th. Snap-On’s dividend payout ratio is 44.82%.

Insider Buying and Selling

In other Snap-On news, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-On stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the sale, the chief executive officer now directly owns 793,932 shares in the company, valued at $266,221,278.24. The trade was a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Karen L. Daniel sold 1,090 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total transaction of $348,712.80. Following the sale, the director now owns 8,030 shares in the company, valued at approximately $2,568,957.60. This trade represents a 11.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,515 shares of company stock worth $17,094,296 over the last ninety days. 3.90% of the stock is owned by corporate insiders.

About Snap-On

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.